February 2019

FEMA FOCUS

Bhaumik Goda | Saumya Sheth
Chartered Accountants

REVISED ECB REGULATIONS

 

(I) Background

 

RBI has completely revamped existing regulations relating to External Commercial Borrowings, Trade credits & Borrowing and lending in INR (‘ECB’) by issuing a revised Notification No. 3(R) /2018-RB - Foreign Exchange Management (Borrowing and Lending) Regulations, 2018 dated 17th December 2018 (‘New ECB Regulations’). Further, RBI has also issued A.P. (DIR Series) Circular No. 17 dated 16th January 2019 (‘Circular 17’) providing for new ECB framework.

 

Earlier there were following three regulations governing borrowing/lending by person resident in India with persons resident outside India:

 

Sr. No.

Name of regulation

Relevant Notification No.

--->

Past Issues

Flip-Book
HTML View
Current Issue